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Talisman Lands $141M for Fashion Outlets

LAS VEGAS-The financing includes a loan on existing improvements, preferred equity and a standby construction mezz loan for expansion of the property.

By Brian K. Miller | Updated on April 01, 2007

(To read more on the debt and equity markets, click here.)

LAS VEGAS-Talisman Cos. has landed a $141-million financing package from Capmark Finance Inc. for the Fashion Outlets, an upscale 371,000-sf shopping center attached to Primm Valley Resort and Casino located 36 miles south of here in Primm, NV. The package includes a five-year, fixed-rate senior debt on the existing improvements; preferred equity; and a standby five-year construction mezzanine loan to facilitate the eventual expansion of the property.

The financing enabled Talisman to buy out its institutional partner, an affiliate of Goldman Sachs, and position itself to expand the property, according to the loan originator, Scott Crimmins of Capmark’s New York City office. When pre-leasing is complete, Talisman plans to expand the existing 371,600-sf center by 150,000 sf.

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